According to the reports, the owner of Gatwick and London City airports, the owner of Paris' Charles de Gaulle airport and the German insurer Allianz SE have all signed a deal as per which, they will together bid for airports in Madrid and Barcelona.

The next bidding round is in October and the Global Infrastructure Partners LLC has placed a proposal for Spanish hubs. Regarding the situation, no comment was received from Global Infrastructure.

The efforts are being made for the contract that will be sold by the Spanish Government to the best bidder to run the airport. The bid is one of the solutions with the help of which, the country is trying best to slash its budget deficit.

According to government sources, one sale can raise more than EUR5 billion enabling the country to easily patch up the country's finance and lost controls.

The contracts will allow bidders to run the airports for approximately 20 years, which can be further extended to five more years if the situation demands. The condition that the government has kept mandatory for the suitable bidder is that all interested companies have to prove that they are financially well supported with at least EUR 3 billion as assets value along with good experience of running an airport.